Ascend Wellness Holdings (AWH), a multi-state, vertically integrated cannabis operator, closed on $36.5 million of additional funding under the increase option of its existing term loan credit facility. In August 2021, the company closed on a $210 million senior secured term loan credit facility with Seaport Global Securities as lead manager.
“We appreciate the support from our lenders and are pleased to secure $36.5 million of additional financing. This financing will support our investments in near-term growth initiatives including the expansion of our Pennsylvania assets and acquisition of MedMen NY. We continue to explore all financing options including additional capacity under the term loan increase option,” Dan Neville, CFO of AWH, said.
